Betdaq is an Irish gambling company which operates the world's second largest online betting exchange. Its product offering also includes sports betting and online casino. Founded in 2000 by Irish businessman Dermot Desmond, the business is split into two divisions, International and UK. International operations are regulated by the Alderney Gambling Control Commission and conducted from the company’s headquarters in Dublin, while its UK business is regulated by the Gambling Commission and operates from its satellite office in Gibraltar. In 2013, Betdaq was sold to Ladbrokes for €30m but in November 2021, the company was sold back to Dermot Desmond for an undisclosed sum. Business As a betting exchange operator, Betdaq currently holds an approximate 7% market share. Betdaq allows people with different opinions on the likely outcome of an event to bet against each other. A betting exchange allows people to bet against each other rather than against a bookmaker. Betdaq offers betting markets on a range of international sporting and other events and claims to handle in excess of £75 million worth of bets every week. Betdaq brings together bettors from around the world and allows gamblers to bet against one another, rather than using a bookmaker. Betdaq charges a commission on all winning bets, which is set at 2 percent of the net winnings for most markets; this can vary depending on the amount of commission that is paid. Operations Since Betdaq was launched in 2000 it has become the second largest online betting exchange company in the UK and the largest betting exchange technology provider in the world. Betdaq operate a number of sports betting brokerages and websites from a central exchange hub providing partners with market pricing for sports wagering and risk management. The central Global Betting Exchange Alderney (GBEA) hub matches in excess of £75 million worth of bets from members and brokerages around the world each week to a value in excess of $7 billion annually. It has a team of 50 IT developers and has invested in excess of $30 million in the platform to date. In early 2011, Betdaq finalised a deal for technology software from GTS, a CryptoLogic Inc company, and soft launched Betdaq Games which it integrated into the network. In October 2012, Betdaq launched BetdaqNFL, a dedicated micro site that offers live streamed video match commentary direct from the USA. This site is dedicated entirely to the NFL